When you are watching your spending, you may not take into account that what you do socially with your friends has some influence on your budget. Your peers may influence what you buy, for example if all of your friends have a new Iphone, you may want the Iphone as well even if you don’t need one.
Another example of how your friends could affect your budget is during social outings like eating out at a restaurant. You may be budget conscious and order something cheap, but your friends may not be so frugal and may suggest splitting the bill. It is important either suggest budget friendly outings and to voice your concerns about splitting the bill if you are eating out with friends.
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How Your Friends Are Killing Your Wallet — And How To Stop The Sabotage